In a major boost for Sierra Leone’s energy sector, the Millennium Challenge Corporation (MCC) Board of Directors has greenlit a $480 million compact grant.
The investment aims to deliver affordable electricity to 4.6 million Sierra Leoneans, addressing a critical need in a country where 70 percent of the population lacks access to reliable power.
“In Sierra Leone, 70 percent of the population does not have access to electricity. The MCC compact with Sierra Leone is important for its potential to deliver affordable energy for 4.6 million people,” the MCC stated in a release today.
The agency highlighted the significance of the investment, which underscores the progress Sierra Leone has made in implementing the Agreement for National Unity.
The statement noted, “Approval of the $480 million investment reflects the MCC Board’s recognition of the progress made to implement the Agreement for National Unity, including the delivery of the draft Electoral Review Committee report, which is expected to be finalized and published in the coming days.”
The MCC also emphasized the importance of ongoing efforts towards electoral reform.
“These actions taken to date represent a critical advancement of efforts to strengthen Sierra Leone’s democratic and electoral institutions following the June 2023 elections. In making its decision to approve, the Board also noted the need for continued progress toward implementing meaningful electoral reform through peaceful dialogue and inclusive political processes,” the statement continued.
Dr. Mohamed Juldeh Jalloh, Sierra Leone’s Vice President, who oversees the Sierra Leone Compact Development Unit, expressed his satisfaction with the Board’s approval.
“This is a momentous occasion and a tangible step towards transforming Sierra Leone’s energy sector and ensuring our people will have access to reliable and affordable power. It will accelerate private sector development and sustainable economic development,” he tweeted.
The Millennium Challenge Corporation, an independent U.S. government agency, was established in 2004 with a mission to reduce global poverty through economic growth. It provides time-limited grants to countries that meet high standards for good governance, anti-corruption measures, and respect for democratic rights.
